8-K
COMMUNITY TRUST BANCORP INC /KY/ (CTBI)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 31, 2025
Commission file number 001-31220
Community Trust Bancorp, Inc.
(Exact name of registrant as specified in its charter)
| Kentucky | 61-0979818 |
|---|---|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |
| P.O. Box 2947<br><br> <br>346 North Mayo Trail<br><br> <br>Pikeville,<br> Kentucky | 41502 |
| (Address of principal executive offices) | (Zip code) |
| (606)<br> 432-1414<br><br> <br>(Registrant’s telephone number) | |
| Securities registered pursuant to Section 12(b) of the Act: | |
| Common Stock<br><br> <br>(Title of class) | |
| CTBI | The NASDAQ Global Select Market |
| (Trading symbol) | (Name of exchange on which registered) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 – Regulation FD Disclosure
Community Trust Bancorp, Inc. (“CTBI”) is presenting to investors at the 2026 CEO Forum hosted by Janney Montgomery Scott being held February 4-5, 2026 in Scottsdale, Arizona. A presentation is being provided that is accompanied by a series of slides. These slides include information relating to CTBI’s current and historical financial results, as well as future performance goals. A copy of these slides is being furnished to the Securities and Exchange Commission pursuant to Item 7.01 – Regulation FD Disclosure of Form 8-K and is attached hereto as Exhibit 99.1. The information in this Form 8-K and in Exhibit 99.1 attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
The following exhibit is filed with this report:
| 99.1 | February 2026 Investor Presentation |
|---|
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| COMMUNITY TRUST BANCORP, INC. | ||
|---|---|---|
| By: | ||
| Date: | February 3, 2026 | /s/ Mark A. Gooch |
| Mark A. Gooch | ||
| Chairman, President, and Chief Executive Officer |
Exhibit 99.1
February 2026
Cautionary Statement Information provided herein by CTBI contains “forward-looking” information. CTBI cautions that any forward-looking statements made are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Please refer to CTBI’s 2024 Annual Report on Form 10-K, Cautionary Statement Regarding Forward Looking Statements for additional information. 2
Key Metrics Total Assets $6.7 billion Market Capitalization $1.0 billion Cash Dividend Yield 3.75% P/E Ratio 10.4x Price to Book Value 1.2x Price to Tangible Book Value 1.3x Tangible Common Equity Ratio 11.94% Competitive Position 3rd largest Kentucky domiciled bank holding company 2nd in Kentucky in deposit market share of all Kentucky domiciled FDIC insured institutions 7th largest bank in Kentucky in terms of deposit market share of all FDIC insured institutions Financial data as of December 31, 2025 Deposit market share as of June 30, 2025 3
Corporate History 1903 Pikeville National bank formed 1987-2005 Acquired 14 banks and purchased 17 branch locations 1997 Changed name to Community Trust Bancorp, Inc. 2010 Acquired LaFollette First National Corporation Presently Two operational subsidiaries~ Community Trust Bank, Inc. and Community Trust and Investment Company 4
Our Banking Franchise Serving customers in 81 locations in 37 counties throughout Kentucky, Tennessee, and West Virginia, including 5 trust offices in Kentucky and Tennessee
Our Banking Franchise Central Region Eastern Region Northeastern Region Loans - $1.2 billion Loans - $1.0 billion Loans - $0.6 billion Deposits - $1.5 billion Deposits - $2.2 billion Deposits - $0.8 billion • Danville • Floyd/Knott/Johnson • Advantage Valley • Lexington • Hazard • Ashland • Mt. Sterling • Pikeville • Flemingsburg • Richmond • Tug Valley • Summersville • Versailles • Whitesburg • Winchester South Central Region Indirect Lending Loans - $1.2 billion Loans - $0.9 billion Deposits - $1.2 billion • Campbellsville CTIC • LaFollette Assets Under Management - $4.1 billion (including $1.1 billion CTB) • Middlesboro Revenues - $23.5 million • Mt. Vernon • Williamsburg • Ashland • LaFollette • Lexington • Pikeville • Versailles Financial data as of December 31, 2025 6
Trust Assets Under Management & Trust Revenue Includes CTB portfolio Assets in billions Revenue in millions 7
Executive Management Team Banking Yrs. w/ Name Position Experience CTBI Mark A. Gooch Chairman, President, and CEO 44 years 44 Kevin J. Stumbo EVP/Chief Financial Officer 39 years 31 Richard W. Newsom CTB President 42 years 42 Andy Waters CTIC President and CEO 39 years 22 C. Wayne Hancock EVP/Chief Legal Officer 17 years 17 Mark Smith EVP/Chief Credit Officer 33 years 19 Thomas McCoy EVP/Operations 34 years 34 Steven E. Jameson EVP/Chief Risk Officer 40 years 21 Ricky Sparkman EVP/SC KY/TN President 41 years 32 D. Andrew Jones EVP/NE KY/WV President 38 years 38 David Tackett EVP/E KY President 38 years 34 Billie Dollins EVP/C KY President 44 years 15 8
Operational Philosophy Traditional community banking business model Executive management and board of director commitment to strong corporate governance Decentralized decision making and centralized operations and risk management Strong loan portfolio risk management process Specialized product offerings Maintain a strong tangible equity position Organic growth expectations combined with de novo branching and acquisition Consistent long-term performance 9
Consistent Financial Performance 2025 2024 2023 2022 2021 EPS $5.44 $4.61 $4.36 $4.59 $4.94 ROAA 1.53% 1.41% 1.40% 1.50% 1.63% ROAE 12.07% 11.31% 11.75% 12.74% 12.88% Net Int. Margin 3.62% 3.36% 3.32% 3.32% 3.21% Efficiency Ratio 50.48% 52.57% 54.29% 53.07% 53.11% Nonperforming Loans 0.39% 0.59% 0.34% 0.41% 0.49% Net Charge-offs 0.16% 0.13% 0.08% 0.02% 0.00% % of Average Assets: Noninterest Income 0.99% 1.05% 1.02% 1.07% 1.13% Noninterest Expense 2.23% 2.22% 2.25% 2.23% 2.21% 10 All information is for the years ended December 31.
Earnings Review
Earnings Per Share EPS increased 18.0% from 2024 to 2025 2026 EPS goal - $5.78 to $6.02 per share 12
Net Income Net income increased 18.4% from 2024 to 2025 2026 goal for net income - $105.1 to $109.3 million (in millions) 13
Revenues Revenues increased 13.7% from 2024 to 2025 2026 goal for revenues - $294.7 to $306.7 million (in millions) 14
Noninterest Incomeas a % of Total Revenue Noninterest income increased 1.7% from 2024 to 2025 2026 goal for noninterest revenue – 22.0% to 24.5% of total revenue (in millions) 15
Net Interest Revenue Net interest revenue increased by 17.7% from 2024 Net interest margin increased 26 basis points Average earning assets increased $507.6 million, or 9.1% (in millions) 16
Net Interest Margin Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2025 for bank holding companies with consolidated assets of $3 billion to $10 billion. 17 Dec ’25 Sept ’25 Jun ’25 Mar ’25 Dec ’24 Sept ’24 Net Interest Margin 3.67% 3.60% 3.64% 3.57% 3.43% 3.39% Yield on Earning Assets 5.64% 5.73% 5.76% 5.71% 5.66% 5.72% Cost of Interest Bearing Funds 2.78% 3.01% 3.00% 3.02% 3.18% 3.36% Benefit of Noninterest Bearing Deposits 0.81% 0.88% 0.88% 0.88% 0.95% 1.03%
Net Noninterest Expenseas a % of Average Earning Assets Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2025 for bank holding companies with consolidated assets of $3 billion to $10 billion. (in millions) 18 Noninterest Expense & Efficiency Ratio (in millions)
Return on Average Assets Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2025 for bank holding companies with consolidated assets of $3 billion to $10 billion. 19
Balance Sheet Review
Total Assets Total assets at 12/31/25 increased $490.9 million, or 7.9%, from 12/31/24 Loans increased $408.3 million or 9.1% Investment portfolio increased $65.4 million or 6.2% Deposits, including repurchase agreements, increased $387.5 million or 7.3% 2026 goal for total assets - $6.80 to $7.23 billion (in billions) 21
Total Loans 2026 goal for total loans – $5.02 to $5.22 billion (in billions) 22 Loan Portfolio Mix December 31, 2025 Loan Rate Mix
Concentrations of Creditas a % of Total Loans December 31, 2025 23
Indirect Lending (in millions) 24
Net Charge-offsas a % of Average Loans Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2025 for bank holding companies with consolidated assets of $3 billion to $10 billion. 25 Nonperforming Loansas a % of Total Loans Commercial loans - $3.0 million Consumer indirect loans - $3.6 million Consumer direct loans - $0.6 million Residential loans - $0.2 million
Nonperforming Assetsas a % of Total Assets $3.1 million in other real estate owned 26 Loan Loss Reserve as a % of Net Loans Peer data obtained from the Federal Reserve Bank Holding Company Performance Report as of 9/30/2025 for bank holding companies with consolidated assets of $3 billion to $10 billion.
Criticized Assets as a % of Tier 1 Capital + Allowance for Credit Lossesas a % of Total Assets 2021 2022 2023 2024 2025 OAEM $1,360,144 $2,192,698 $17,189,745 $8,678,851 $14,737,501 Substandard 57,763,067 61,714,258 55,552,945 67,121,668 68,568,542 Doubtful 308,390 1,008,981 765,359 1,488 108,077 Total Loans $3,408,813,271 $3,709,289,556 $4,050,905,735 $4,486,636,898 $4,894,942,366 27 Criticized Assets as a % of Total Loans
Total Depositsincluding Repurchase Agreements (in billions) 28 December 31, 2025 2026 goal for total deposits including repurchase agreements - $5.83 to $6.07 billion
Shareholder Value
Dividends Per Share Dividend payout ratio at December 31, 2025 was 36.8% Desired level between 40% and 50% December 31, 2025 cash dividend yield was 3.75% 30
Shareholders’ Equity Shareholders’ equity has increased 22.6% during the past five years 5.5% compound growth rate for the past five years 2026 goal for shareholders’ equity - $923.9 to $961.6 million (in millions) 31 5.5%
Book Value Per Share Tangible Common Equity/Assets 32
5 Year Cumulative Total ReturnComparison of CTBI, NASDAQ Stock Market (U.S.), and NASDAQ Bank Stocks An investment in CTBI stock on December 31, 2020 would have underperformed the NASDAQ Stock Market (U.S.) and the NASDAQ Bank Stocks Index at December 31, 2025. 33
Comparison to Russell 2000 Indexof Small Cap Companies 3-, 5-, and 10-year total returns annualized Return to Investors 34 December 31, 2025
Core Value Long-Term Investment 12 stock splits and 10 stock dividends 45 years of consecutive increases in cash dividends 5-year compound growth rate of cash dividends 5.5% Stock included in the NASDAQ Global Select Market, NASDAQ Dividend Achievers Index, and NASDAQ Bank Stock Index CTBI shareholders include 273 institutional investors (including CTIC – 10.9%) hold 11.8 million shares (62.7%) 316 mutual funds hold 5.5 million shares (30.5%) Data as of December 31, 2025 35
Key Strategic Initiatives
Operational Priorities Build core earnings capacity Quality loan growth Low cost deposit growth Branch expansion in growth markets Maintain net interest margin Operational efficiency Expense control Noninterest revenue growth Compliance management Increase noninterest income Wealth management Brokerage Insurance Continuing focus on improving asset quality 37
CTBI’s Franchise Value History of solid investor returns Historically strong capital position Investor focused dividend policy Dividend Achievers Index Consistent financial performance Community banking strategy Economic diversity in the markets we serve Strong experienced management team and nearly 1,000 dedicated employees Our shareholders 38
39 2026 Investor Presentation